The Branch Manager, 9th May, 2009
ICICI Bank Limited
1194/8, Ramachandra Sabha Mandap,
Ghole Road, Shivaji Nagar.
Pune – 411 005
Subject: Home loan switch process clarification and related information required
please provide me the answer of the following:
1. Why there is the different between the switch process in Delhi and Pune? Delhi took
80 minutes and Pune took 1 month to do the same thing?
2. Since Pune took 1 month to process the switch, justify the interest on my loan and
principal outstanding I have to pay because of ur process. I was ready with the money
for the switch on 3 march and had you been initiated the switch process at that stage,
just like Delhi icici bank, I would have saved a lot of interest.
2. Why I have been forced to buy a ICICI pru ULIP of 40k? I can’t believe that to reduce
one liability I have to take additional liability of 40k for a whooping 19 years!!!!! Pls
provide me in writing the details of this scheme which is valid in Pune and not in any
other place. For that matter even the call center people are not aware of it because
when I call them and asked more about this scheme, they were clueless.
3. Why my loan account number has been changed whereas ICICI Delhi branch kept it
4. Why four blank checks (with no date and amount) has been taken from me and what
is the status of these checks?
5. How have you arrived at this figure of Rs 529588 for refinancing, it should be less. As
per my amortization schedule the principal balance till April, 2009 is Rs 522459 and till
May, 2009 is 524849. You have given a brand new figure of 529588 !!!!! pls explain???
6. How have you arrived at this figure of 2926 towards the switch fee? I have been told
by Gaurav that the charges were .5% of the outstanding principle so .5% of 529588 is
352648 and .5% of 522549 is 2612. None of them matched the figure debited from my
7. My account has been debited of Rs 566 on 29 April, 09. My EMIs will start from May,
09 so what is this amount?
8. I have attached two letters sent by you with my comments, pls explain them.
I could have transferred the Pune home loan to Delhi and would have converted it in the
same fashion without paying forced ULIP and waiting for a month. Unfortunately, I
switched my Pune home loan first and then the Delhi one.
TILL DATE I HAVE NOT HEARD FROM THEM